PAN Card is one of the most essential documents that an Indian Individual need for almost every process related to Salary and Taxation. Also PAN is accepted as a proof of identity in many of the organizations across the country. However the main objective of PAN is to track the income tax contributions of the PAN holder. This helps the government to. PAN remains unaffected throughout the geographical boundary of India.
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What is PAN?
PAN stands for Permanent Account Number. A PAN is a unique identification number issued to every taxpayer of India to identify them by the Income Tax Department. It contains all the information related to the payment of Income Tax of the holder of the PAN.
PAN contains a ten digit alpha numeric number which is unique to every PAN holder. The first five characters are letters in Uppercase (By Default), the next four characters are numbers and the last i.e. the tenth character is a letter.
Why PAN is important?
PAN is one of the most important documents that an Indian Tax payer needs to have. The primary function of PAN is to bring a universal identification to all financial transactions and to keep a track of all the monetary transactions done by the PAN card holder. This helps the Income Tax Authority to prevent tax evasion.
The various reasons for which PAN is important are:
a) Filing Income Tax Returns.
All the salaried or self-employed individuals who are eligible for Income Tax are required to file their Income Tax return. This is why individuals apply for a PAN card as PAN is mandatory for filing Income Tax return.
b) Identity Proof.
PAN card is also used as an identity proof along with Voter ID, PAN and Passport. It is accepted by financial institutions (Banks, etc.), other organizations as Proof of identity.
c) Tax Deductions.
PAN is also necessary for availing Tax deductions. It has been stated by the Income Tax authority that it is mandatory to link PAN to the bank account.
In case if a person has over Rs 10,000 as annual interest earnings on his deposits then his bank would deduct 30% TDS (Tax Deducted at Source) instead of 10%.
d) Claiming Income Tax Refund.
TDS deducted from an individual’s salary is often more than the actual tax that he is supposed to pay. In such cases, PAN is mandatory for the individual to claim the excess tax paid.
e) Starting a business.
To start a new business and to obtain the TRN (Tax Registration Number), a company or an entity needs to have a PAN registered in the name of the new business/entity.
f) Opening a Bank and Demat Account.
PAN is mandatory for an individual or company to open a savings or current account in the bank. The only exception with this regard is under Pradhan Mantri Jan Dhan Yojana where a person can open a bank account using his voter card or other proof of identity.
PAN is also mandatory to open a Demat account for holding shares in dematerialized form.
g) For foreign travel or hotel.
The Indian government has made it mandatory for people to use their PAN for transactions related to foreign travel or payment in hotels which are more than Rs 50,000.
h) Purchasing Real Estate
PAN is mandatory to purchase Real estate whose worth is more than Rs 10 Lakhs.
i) Cash Payments
PAN is needed to be produced for cash Payments adding up to more than Rs 50,000 per year.
j) Purchase and Sale of goods and services.
PAN is necessary for the purchase and sales of goods and services for an amount of more than Rs 2 Lakh per transaction.
How to apply for PAN card online.
PAN can be obtained by both online and offline mode.
For online mode you can use two methods:
- Online PAN Card NSDL.
- Online PAN Card UTIISL.
You can get a PAN online by applying through the NSDL (National Securities Depository Limited) portal: at https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html and UTIISL (UTI Infrastructure Technology and Services Limited) portal at https://www.pan.utiitsl.com/PAN/mainform.html .
To obtain PAN Offline, you can apply through District Level PAN Agencies. However obtaining PAN Offline is not hassle free. It takes more time and also requires you to constantly keep in touch with the PAN Agencies to know about the status of your PAN.
You need to fill form 49A which can be obtained online and offline depending on the mode of your PAN application.
We will be discussing How to apply PAN online in details below.
Steps to obtain PAN card Online.
You can obtain PAN online using two different online portals provided by the Indian Government.
- Obtaining PAN online through NSDL Portal.
- Obtaining PAN online through UTIISL Portal.
A. Obtaining PAN online through NSDL Portal.
You need to follow the following steps in order to obtain your PAN through the NSDL Portal:
1. Open the NSDL Site. (https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html) to apply for a new PAN
2. Select the Application Type: New PAN (For Indian Citizen or Foreign Citizen)
3. Select your category out of the given categories.
4. Fill in the application form with all the required details (Name, D.O.B, Phone number, email etc.)
5. After Filling and submitting the form, the following message will be displayed.
6. Click on “Continue with PAN Application Form”.
7. You will be redirected to another page where you will be asked to submit your E-KYC.
8. Now enter your Personal details and Contact details in the next parts of the form.
9. Enter your area code, AO and other details given in the form. The following details will be available in the form.
10. The last part of the form is related to the submission of the relevant documents.
11. Once you submit the form you will get to see the completed form. You can make changes if needed or directly click on the Proceed Button.
12. You will be redirected to the payment page where you will be able to make payments through net banking/credit card/debit card etc.
- Once you have made the payment you will get the acknowledgement form along with the 16 digit acknowledgement slip.
- Take a print out of the form and attach two passport size photographs to the form.
- Enclose all the relevant documents submitted after self-attesting them.
- Post the envelop to the address mentioned below :
Income Tax PAN Services Unit,
NSDL e-Government Infrastructure Limited,
5th Floor, Mantri Sterling, Plot No 341,
Survey No – 997/8, Model Company
Near Deep Bungalow Chowk, Pune – 411016
Note: Label the envelop as “APPLICATION FOR PAN – N Acknowledgement Number”.
B.Obtaining PAN online through UTIISL Portal.
You can also apply for a PAN online using the UTIISL Portal at https://www.pan.utiitsl.com/PAN/mainform.html .
1) Applicant should fill in Application Form 49A “online” through UTIITSL’s site https://www.pan.utiitsl.com/PAN/mainform.html .
2) Applicant should click on “Validation” and the “Submit” button once the application is completely filled.
3) The filled-in application form is visible on the screen for the applicant to verify and correct details if needed.
4) After verification the applicant can now proceed to make online payment by clicking on “Make Payment” button on this form
5) Applicant will be re-directed to Payment Gateway site now by choosing either of the available gateway options – Bill Desk and PayU India.
6) Applicant needs to make the payment using one of the following options: Net banking, Credit Card (Master/Visa),
Debit Card (Master/Visa), Cash Card or any other as seen available on the Payment Gateway site.
7) Once the payment is done, applicant will either get a “SUCCESS” or a “FAILURE” message on his screen based on the data he have entered.
In case of FAILURE it is advisable to attempt the payment again after verifying all the payment details.
9) On successful payment, the payment receipt will be endorsed with the filled in form.
After successful payment the applicant will be able to save or print his form using the “Print Form” option.
11) On the printed form, two passport size photographs of the application is needed to be attached.
12) The next step is to put the applicant’s signature at the 3 specified positions on this photo-affixed form.
13) After the completion of the PAN Application process, Applicant should attach a copy of the documents being submitted as
Proof of Identity, Proof of Address and Proof of Date of Birth strictly as per information provided in the filled-in form:
14) After application process is complete, the applicant will have the following documents with him: one filled-in, signed and photo-attached PAN Application form along with the “payment confirmation” and with the three supporting documents as proofs (identity, D.O.B and address).
15) Applicant should now submit or dispatch this complete set of his/her application form along with the above mentioned documents to the nearest UTIITSL office address below at any one of Mumbai, Kolkata, Chennai or New Delhi regions for processing and issuance of his/her PAN Card.
Documents required for applying PAN online.
While applying for PAN you need to give documents which will prove the following:
A.Proof of Identity.
The following documents can be used as Proof of Identity:
- Driving License
- Adhaar Card
- Voter ID
- Any identity card issued by an government body.
- Bank Passbook and other certificates.
B.Proof of Address.
The following documents can be used as proof of address:
- Utility Bills (Landline, Water, Broadband, Electricity etc.).
- Post office passbook.
- Passport of spouse.
- Adhaar Card.
- Employee Certificate.
C. Date of Birth.
To prove your Date of Birth you can use the following documents:
- Birth Certificate.
- Driving License.
- Matriculation Certificate.
- Voter ID.
Eligibility for PAN
To apply and get a PAN card you will need to fulfill the following criteria:
- Minimum age is 18 (However in case of minor parents can apply on their behalf)
- The Applicant must be an Indian Citizen and should have all the required relevant documents.
- In case of minor, their parents/guardians can apply for PAN card on the minor’s behalf.
- If you are an Indian Citizen living in Abroad you can produce a copy of your bank statement in the present country as address proof.
- If you are applying Pan for your company, your company must be registered with the Registrar of companies and you will need to produce the registration certificate to get a PAN card for your company.
Steps to make corrections in PAN card
You can also make corrections to various wrong information related to your PAN card. To make corrections in your PAN you need to follow the following steps:
- To correct your PAN card details you need to visit the NSDL portal https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html .
- Select PAN correction from the Application type drop down menu and fill out the details.
- After submitting the form you will be re-directed to a new page. A token number will be generated and the same will be sent to your registered Email address.
- On the top of the page, under the Submit scanned images through e-sign in, mention the PAN number that you want to correct.
- You will be redirected to a new page where you will need to fill out all your personal details carefully without making any mistakes.
- After submitting, you will get a preview of your application form. Verify all the changes and proceed to payment.
- If the communication address is in India, you will need to make a payment or Rs 110. If the address is outside India, you will have to pay a processing fee of Rs 1,020. You can pay the amount via your debit card/credit card/E banking. You can also make the payment by issuing a demand draft in favor of “NSDL-PAN” and is payable in Mumbai.
- After the payment is made you will get a downloadable acknowledgement which is to be saved, printed and sent to NSDL e-Gov. Attach two photos in the acknowledgement form.
Post the acknowledgement form to NSDL e-Gov. at “Income Tax PAN Services Unit,
NSDL e-Government Infrastructure Limited,
5th Floor, Mantri Sterling, Plot No 341,
Survey No – 997/8, Model Company
Near Deep Bungalow Chowk, Pune – 411016”
Then label the envelop as “Application for PAN change request” along with photocopies of Proof of Identify, Proof of address and Date of Birth.
This is how PAN Card Correction Online is done.
Shop on No Cost EMI’s from the EMI network
EMI network is a payment system with instant financing options. It is a way through which you can buy your favorite electrical and home appliance and simply divide the cost of the purchase into easy installments.
With the help of EMI Network card you can acquire any electrical or home appliances in just 3 easy steps:
- Walk in any partner store.
- Use the EMI Network Card.
- Walk out with your appliance.
What are EMI network cards?
EMI Network card is a card using which you can get preapproved loans up to Rs 4 Lakhs to purchase any home or electrical appliances.
Using EMI Network Cards you can avail No Cost EMIs i.e. EMI’s without paying any extra charges.
In India, Bajaj Finserv provides the option of EMI Network card. Bajaj Finserv EMI network Cards can be used in partnered stores such as Amazon, Flipkart, Goibibo, Make My Trip, Paytm mall etc. to avail no cost EMI services.
How to apply for EMI Network cards?
- To apply and get a EMI Network card, You need to visit the service provider’s customer portal.
- Check the details and fill out the related documents.
- Apply for the card.
You can also get a EMI Network Card offline by visiting a nearby EMI network partner store. There the store representatives will guide you through the application process.
Note: PAN card is mandatory to avail No Cost EMI services from any EMI Network using a EMI network card.
Online services related to PAN
Various online services related to PAN are:
- Apply PAN online :
- For NSDL : https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html
- For UTIISL : https://www.pan.utiitsl.com/PAN/mainform.html
- Link PAN card and Adhaar Card online:
- Search for PAN Centers Near You online:
- Track Status of your PAN online:
- To file any grievances related to PAN online:
FAQ’s related to PAN
Q1. Full form of PAN
Ans: Full form of PAN is Permanent Account Number.
Q2. What is PAN?
Ans: A PAN is a unique identification number issued to every taxpayer of India to identify them by the Income Tax Department.
Q3. What is use of PAN?
Ans: The primary function of PAN is to bring a universal identification to all financial transactions and to keep a track of all the monetary transactions done by the PAN card holder. This helps the Income Tax Authority to prevent tax evasion.
Q4. Minimum Age limit for PAN.
Ans: Minimum Age limit for PAN is 18years.
Q5. Can Minors obtain PAN?
Ans: In case of minor, their parents/guardians can apply for PAN card on the minor’s behalf.
Q6. Where can I apply for PAN online?
Ans: You can obtain PAN online using two different Online portals provided by the Indian Government.
- Obtaining online PAN card through NSDL Portal.
- Obtaining online PAN card through UTIISL Portal.
Q7. Is PAN mandatory?
Ans: Yes, PAN is mandatory for every Indian Tax Payer. PAN is mandatory to open a new bank account or a new demat account.
Q8. What is a EMI Network Card?
Ans: Online EMI Network card is a card using which you can get preapproved loans up to Rs 4 Lakhs to purchase any home or electrical appliances.